The UK retail sector has seen ‘value destruction on an unprecedented scale’, a leading real estate expert has said. Andrew Smith, global head of real estate at Aberdeen Asset Management, said that the state of the retail market is now one of the biggest challenges for UK investors.
As part of a panel of European property experts asked to make predictions about the real estate market in 2013, Smith said the severe conditions for retailing in Britain have caused a major downturn in property values...............................................Full Article: Source